HB 6046 Summary

• Amends the Land Bank Fast Track Act to modify notice requirements for expedited quiet title and foreclosure actions on tax-reverted property held by land bank authorities.

• Changes publication requirement from 3 successive weeks in a newspaper to "tier A public notice" under the Local Government Public Notice Act, effective January 1, 2015; maintains 3-week newspaper publication requirement through December 31, 2014.

• Authorizes land bank authorities to record notices of pending expedited foreclosure actions, conduct title searches to identify property owners, and file consolidated petitions in circuit court with hearings scheduled within 90 days.

• Establishes that successful foreclosure results in fee simple title vesting absolutely in the authority without redemption rights, extinguishes most liens and interests except environmental liens, and limits grounds for challenging foreclosure validity.

• Allows property owners to appeal foreclosure judgments to the Court of Appeals within 21 days by paying back taxes and fees; bars owners from recovering property from subsequent buyers but permits monetary damages claims in the Court of Claims within 2 years.